Euro remains under $1.32
EUR/USD is trading at $1.3138; the single currency will be in focus this week as the ECB will make an interest rate decision on Thursday, and Mario Draghi has recently suggested that more easing would be required.
This morning Germany confirmed its second-quarter GDP declined by 0.2%, and the latest manufacturing figures from the eurozone show the sector is barley growing. Additional easing from the ECB on Thursday is not a forgone conclusion, but a growing number of analysts are expecting a cut of 0.1% to 0.05%.
If extra easing is announced the euro could target $1.30 by the end of the week. On the other hand, if the ECB keeps its policy unchanged the euro could head towards $1.3289.